The Four Nevers of Reverse Mortgage
How a reverse mortgage protects you
If you’re 62 or older, a reverse mortgage is a safe and secure way for you to use your home to get the cash you need.
If you’re 62 or older, a reverse mortgage is a safe and secure way for you to use your home to get the cash you need.
Reverse mortgages are unique and often misunderstood, but as you learn about their advantages on the following screens, keep these “Four Nevers” of reverse mortgages in mind:
As long as you remain in your home, you will:
- Never have to make a monthly payment
- Never be forced to move
- Never owe more than the sale price of your home
- Never give up title and ownership of your home
That’s right – a reverse mortgage pays money to you, as though you had sold your house. You can receive monthly payments or a lump-sum payout based on the value of your house, but you’ll never owe more than your house is worth. Moreover, you’ll never have to move or even give up ownership. The house remains yours, just as is today.
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